Chinatown Business Association wins tender to manage iconic Smith Street in Chinatown
The tender was reviewed based on cost and the high quality of each submitted principle. It brought in 5 various prospective buyers the minute the tender closed in March, including CBA which submitted the winning bid of $123,000. As the master tenant, CBA will certainly take care of the buildings for five years plus a second term of 4 years.
Noontalk Media sent the highest possible proposal of $180,000, followed by runner-up CBA. Other proposals ranged from $108,174 from Benlo Ventures to $68,177 from ABR Holdings and a $53,000 bid from IGYM Fitness.
Tembusu Grand Jalan Tembusu Road
Lim says that the tender exercise was “really tough” but CBA took advantage of its active visibility in the district for over 20 years. “Over the two decades, we have constructed and nourished relationships, and this has bought us an ingrained link to the ground,” she says. The organisation has indeed arranged past occasion such as wide-scale event events such as 5 Footway Celebration and Dumpling Event, to motif markets, street activities, occasions and workshops.
“This experience is special to CBA, and we intend to take advantage of on our connections in the neighborhood and expertise of Chinatown Singapore’s heritage and society to inject even more vibrancy to Smith Road and Chinatown Singapore,” says Lim.
The Chinatown Business Association (CBA) has won the tender for a row of iconic shophouses along Smith Road in Chinatown. CBA includes stakeholders operating in Chinatown, including business leaders, grassroots leaders, Chinese clan associations, hoteliers, hawkers and stores.
The tender to assign an one master renter to look after the historic row of shophouses at 11 to 37 Smith Street was jointly released by the Singapore Land Authority (SLA), the Singapore Tourism Board (STB) and the Urban Redevelopment Authority (URA) back in November last year.
“Visitors to Chinatown Singapore can eagerly anticipate more curated offerings and backgrounds for both locals and travellers upon the conclusion of the Smith Street restoration project. We are looking to bring in extra engaging and experiential neighborhood programmes, in addition to even more diverse offerings just like innovative way of living, retail and co-living/co-working concepts, whilst protecting and commemorating the place’s cultural and building ancestry,” says Lim Yick Suan, executive director, Chinatown Business Association.
The master renter will embark on the combined management of the shophouses and a nearby State land plot, which have a complete land area of 34,066 sq ft and an estimated gross flooring location of 33,065 sq ft.
According to SLA, the revitalised Smith Street are going to see a brand-new line-up of way of life practices and eating experiences. It says that CBA’s proposition of “distinguished way of living concepts, corresponding programmes and improvements to the general public world aims to further promote local Chinese heritage and strengthen the identity of the area”.
She includes that CBA is going to present “uniquely Singaporean F&B offerings and worldwide food offers for both locals and tourists to experience at Smith Road”.
